Office of Alumni Affairs

The Shmuel and Pearl Lamm Gemilat
Chessed Fund

In 1990 in recognition of a generous grant by Dr. Norman Lamm, then
President of Yeshiva University, the free loan fund operated by the
Yeshiva University Israel Alumni was renamed The Shmuel and Pearl Lamm
Gemilat Chessed Fund. Since then the fund has been supplemented by
donations from the Lamm family.

Operation

The Shmuel and Pearl Lamm Gemilat Chessed Fund (hereinafter the
Gemach) is operated by the Yeshiva University Israel Alumni (YUIA). The
funds are kept segregated in a special account which is devoted to and
limited to the purpose of granting interest free short term loans. The
regulations and procedures are decided by the Board of Directors of
YUIA. The fund is administered by a Committee chosen by the Board.

Conditions

1. Loans are available to alumni of Yeshiva University (and Rabbi
Isaac Elchanan Theological Seminary)
and to others affiliated with Yeshiva University in Israel.
2. The applicant must be living in Israel.
3. Loans are only granted for personal need and are not available for
any kind of business or
commercial need.
4. The maximum loan is for the Shekel equivalent of $3,000 and is to be
repaid over 18 months.
5. The application for a loan requires that the applicant state the
purpose of the loan.
6. The applicant must provide the names and signatures of 2 acceptable
guarantors.
7. Upon receipt of the loan, the applicant must submit 18 shekel checks
(amount of the checks is determined by the committee and is based on
1/18 of the amount of the
loan).
8. The Committee that approves the loan is also authorized to make
decisions concerning the extension
of repayment dates and other administrative decisions. The Committee
is not authorized to grant
loans greater than $3,000.
9. No repeat loans can be granted until the recipient has fully paid off
the previous loan.

DefaultsIn the event of default, all appropriate
measures for collection will be applied.